Covenant Bank & Trust Mortgage Lending & HMDA Data, 2011
In 2011, Covenant Bank & Trust of Rock Spring, GA reported 92 mortgage applications totaling $12.8 million, up 5% from 2010. The average application was for $138,641, and applicants reported an average income of $48,043. 96% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Dalton, GA (51), Chattanooga, TN-GA (37) and Atlanta-Sandy Springs-Marietta, GA (1) (applications in parentheses).
| Mortgage Company & Address | Covenant Bank & Trust 122 Hwy95 Rock Spring, GA 30739 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 92 |
| Total Mortgage Loan Application Amount | $12,755,000 |
| Average Mortgage Loan Application Amount | $138,641 |
| Highest Mortgage Loan Application Amount | $1,556,000 |
| Average Applicant Income | $48,043 |
| Highest Applicant Income | $292,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Covenant Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Covenant Bank & Trust in 2011
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 72 | $10,962,000 | $152,000 | $1,556,000 | $51,000 | $292,000 |
| Home Purchase | 16 | $1,474,000 | $92,000 | $262,000 | $41,000 | $128,000 |
| Home Improvement | 4 | $319,000 | $79,000 | $175,000 | $23,000 | $52,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 71 | $8,227,000 | $115,000 | $621,000 | $60,000 | $292,000 |
| Not applicable | 19 | $3,702,000 | $194,000 | $1,556,000 | $0 | $0 |
| American Indian or Alaskan Native | 1 | $621,000 | $621,000 | $621,000 | $117,000 | $117,000 |
| Hispanic | 1 | $205,000 | $205,000 | $205,000 | $60,000 | $60,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 92 | $12,755,000 | $138,000 | $1,556,000 | $48,000 | $292,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 88 | $12,455,000 | $141,000 | $1,556,000 | $49,000 | $292,000 |
| Application Denied By Financial Institution | 3 | $261,000 | $87,000 | $175,000 | $21,000 | $36,000 |
| Application Approved But Not Accepted | 1 | $39,000 | $39,000 | $39,000 | $41,000 | $41,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Covenant Bank & Trust's 2011 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Covenant Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Georgia, download the full spreadsheet
with aggregated HMDA statistics today.
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